Reason Why it is the Right Time for Startups and Entrepreneurs to Setup Business in Dubai

Hello, all the entrepreneurs right there.

Are you the one who is looking for the right time to set up a business in Dubai, UAE?

Well, your right time is here.

It is the right time to establish a business in the United Arab Emirates, particularly in Dubai, as the city is slowly returning to normal following the pandemic. And also, with the introduction of 100% ownership for foreign investors in Dubai, it becomes more beneficial for all foreign entrepreneurs to start a business or set up a company in Dubai. Business activities are ramping up, and there are numerous business opportunities in Dubai for investors to take advantage of.

Here are some more reasons Why it is the Right Time for Startups and Entrepreneurs to set up businesses in Dubai. Let’s dig into it.

5 Reasons Why it is the Right Time for Startups and Entrepreneurs to set up businesses in Dubai:

1. 100% Foreign Ownership: The new rule of granting 100% ownership to foreign investors has opened a new door for entrepreneurs who wanted to set up a company in Dubai.  100% foreign ownership will encourage more investment in Dubai. It also lowers the cost of business operations. This decision will also strengthen the UAE's position on the global investment map, where industrial activities can be carried out with complete ownership by a foreign and legal non-citizen.

Also read: 100% Ownership for Foreign Investors

2. New laws introduced to support SME and Business ecosystem: The more favourable business environment and new supporting small and medium-sized enterprises legislation in Dubai have created a favorable business environment and the ideal start-up pad for aspiring companies. The Dubai government has taken tremendous steps to ensure that the start-up ecosystem has solid foundations and excellent infrastructure. 

There has never been a better time to set up a business in Dubai than now, with new legislative frameworks, more excellent venture capital investment, banking alliances, and enhanced government assistance.

3. The large pool of talent: As a result of the ongoing Covid-19 crisis, many people have lost their jobs; you can access a larger pool of talent and recruit for your business. You can also employ remote employees from across the globe in areas such as customer service and IT support and design, which makes HR a cheaper alternative for you.

Also read: Free Zone Visa in Dubai - Rules and Regulations

4. Businesses can now register for a lower cost: The Dubai government's new initiatives, programmes, and economic stimulus packages remove numerous fees for new firms and SMEs, making it more affordable to start a business currently. SME suppliers to government agencies will now receive payments within 30 days rather than 90 days, thanks to the new favourable payment terms, giving them more liquidity.

To support SMEs, UAE-based trade finance banks have introduced some new packages for them. Several banks offer reduced minimum average balance requirements for all SME account categories, resulting in higher liquidity.

5. Extensive investment opportunities: Dubai is the hub of investment for small businesses, start-ups and big businesses alike. Dubai is a terrific investment right now because of the immense potential in the market. There are numerous investment opportunities available, with significant marketing events planned in the near future.

The upcoming Expo 2020 will cause tremendous economic growth in Dubai and provide all of us with a single roof of knowledge, innovation and growing commercial opportunities.

Book a free consultation now and talk with our experts at DanburiteCorp

Conclusion

100% foreign ownership, lower setup cost, favourable government laws, supportive banks, and a large talent pool; are significant reasons it is the right time for startups and entrepreneurs to set up businesses in Dubai.

However, setting up a business in Dubai can be a complicated process, especially in these difficult economic times. Many things go behind the scenes while setting up a company in Dubai, such as licensing, legal requirements, visa work, and more.

Don't worry about this challenging process Danburite Corporate is always ready to assist you with their expertise in business setup in Dubai and more.

Contact us today, and set up your Business in Dubai.